Answer:
The word “jubilee”—literally, “ram’s horn” in Hebrew—is defined in Leviticus 25:9 as the sabbatical year after seven cycles of seven years (49 years). The fiftieth year was to be a time of celebration and rejoicing for the Israelites. The ram’s horn was blown on the tenth day of the seventh month to start the fiftieth year of universal redemption.

The Year of the Jubilee involved a year of release from indebtedness (Leviticus 25:23-38) and all types of bondage (vv. 39-55). All prisoners and captives were set free, all slaves were released, all debts were forgiven, and all property was returned to its original owners. In addition, all labor was to cease for one year, and those bound by labor contracts were released from them. One of the benefits of the Jubilee was that both the land and the people were able to rest.

The Jubilee presents a beautiful picture of the New Testament themes of redemption and forgiveness. Christ is the Redeemer who came to set free those who are slaves and prisoners to sin (Romans 8:2; Galatians 5:1; 3:22). The debt of sin we owe to God was paid on the cross as Jesus died on our behalf (Colossians 2:13-14), and we are forgiven the debt forever. We are no longer in bondage, no longer slaves to sin, having been freed by Christ, and we can truly enter the rest God provides as we cease laboring to make ourselves acceptable to God by our own works (Hebrews 4:9-10).